To have a Booster Draft, you need three things: 3 Booster packs per player from the current draft format. 8 total players (It's possible to draft with fewer than 8, but 8 is the number needed for sanctioned Magic drafts) A healthy supply of basic lands.
For 2 players, I prefer a tower draft. Shuffle 92 cards into a pile, then take turns flipping over the top 4 cards. Player 1 takes a card, player 2 takes 2 cards, the player 1 takes the last card. Take turns going first.
Booster Draft is a limited format where players open booster packs and pick a card before passing the rest of the booster to the player to their left. Cards are drafted this way one after another until players end up with a card-pool out of which they have to build the most balanced deck.
All you need is 6 packs for each player, so you could certainly do that to practice in advance of a prerelease, since it's the same format (apart from the fact that you'd be doing it with a set besides MOM). You just open your 6 packs each an make a 40 card deck out of what you open, plus basic lands.
Each deck should have at least 40 cards and should last an average length for a game (about 20 minutes).
You, along with everyone else at the table, open one pack each and select—"draft"—one card from that pack. Then you pass the rest of the cards to the player on your left. The packs get passed around the table until all the cards are gone. You repeat this process for the second pack, passing to the right.